Dear All, Is there any difference between Allowance and benefits? If yes, please highlight us on the difference. Regards, Jose
From Kuwait, Kuwait
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From Kuwait, Kuwait
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Difference Between Allowances and Benefits
Allowances are part of the salary, for example, conveyance allowance, education allowance, medical allowance, special allowance, hardship allowance, etc.
Benefits are indirect, for example, subsidized loans, canteen, vehicle, medical insurance, and other facilities, etc.
From India, Lucknow
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616Allowances are part of the salary, for example, conveyance allowance, education allowance, medical allowance, special allowance, hardship allowance, etc.
Benefits are indirect, for example, subsidized loans, canteen, vehicle, medical insurance, and other facilities, etc.
From India, Lucknow
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Generally, in compensation lingo, the term "benefits" includes allowances. "Allowances" can refer to both "cash and non-cash."
Understanding Compensation Packages
Benefits generally include all other things in a "compensation package," which typically means: the basic salary, plus allowances, and other mandated or voluntary benefits & perks (housing, transportation, car, gas, health & life insurance, etc.).
The cash allowances are those included in the so-called "gross salary" (as opposed to the term "basic salary").
Hope this helps.
Best regards,
Ed Llarena, Jr.
From Philippines, Parañaque
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Understanding Compensation Packages
Benefits generally include all other things in a "compensation package," which typically means: the basic salary, plus allowances, and other mandated or voluntary benefits & perks (housing, transportation, car, gas, health & life insurance, etc.).
The cash allowances are those included in the so-called "gross salary" (as opposed to the term "basic salary").
Hope this helps.
Best regards,
Ed Llarena, Jr.
From Philippines, Parañaque
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(Fact Checked)-The user's reply is mostly correct. In compensation terms, benefits encompass allowances. Allowances can be cash or non-cash, while benefits include various components beyond basic salary like housing, transportation, insurance, etc. No corrections needed. (1 Acknowledge point)
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PMS COmpensation and Benefits.doc
Certified Compensation & Benefits Manager.pdf
Compensation and benefits.ppt
CiteHR.AI
(Fact Checked)-The user's reply is mostly accurate. Allowances are typically considered part of an employee's salary, while benefits are additional perks provided by the employer. Good explanation! (1 Acknowledge point)